Orchidלונג
Getting A Closer Look At OXT's Supports
- In this idea we'll cover supports that OXT currently has and how these can add to the bullish argument
Price Chart
- We continue to see what looks like a symmetrical triangle pattern , which, usually have a bullish outcome
- You'll also see an EMA indicator with lines showing 20/50/100/200(Lower EMA is usually above the others)
- I think of the EMA as the longer the time period of the EMA , the stronger the support. EX) 20 EMA < 200 EMA (200 EMA is stronger)
- Price has now shot above the 20 EMA so as long as we continue to see price above the EMA's good things are to come
- 50 EMA has got our backs in the past price action so hoping we have it's support as we near the end of the triangle
- Worse case scenario we return to $0.59 -> $0.53 -> $0.48 but we wouldn't want that to happen
If you enjoyed this analysis or learned something new, please like this idea so more people can be aware of the possibilities of this coin.👍
Feel free to follow for for important updates for this coin and trading strategies.🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading,
MoneyGrind
Price Chart
- We continue to see what looks like a symmetrical triangle pattern , which, usually have a bullish outcome
- You'll also see an EMA indicator with lines showing 20/50/100/200(Lower EMA is usually above the others)
- I think of the EMA as the longer the time period of the EMA , the stronger the support. EX) 20 EMA < 200 EMA (200 EMA is stronger)
- Price has now shot above the 20 EMA so as long as we continue to see price above the EMA's good things are to come
- 50 EMA has got our backs in the past price action so hoping we have it's support as we near the end of the triangle
- Worse case scenario we return to $0.59 -> $0.53 -> $0.48 but we wouldn't want that to happen
If you enjoyed this analysis or learned something new, please like this idea so more people can be aware of the possibilities of this coin.👍
Feel free to follow for for important updates for this coin and trading strategies.🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
-Happy Trading,
MoneyGrind
כתב ויתור
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